(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Friday.
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AIM - WINNERS
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Pelatro PLC, up 23% at 8.00 pence, 12-month range 4.20p-29.39p. The marketing software specialist wins a "large" contract for campaign management solution by an unnamed Middle East telecommunications company with operations in multiple countries. In 2022, Pelatro had won a contract from one of its operations and has now expanded the relationship to three more countries. The overall contract delivers recurring revenue of about USD650,000 per year. Managing Director & Chief Executive Officer Subash Menon says: "We are excited with this large recurring revenue contract which increases our [annual recurring revenue] by a significant amount. As is the case with this contract, all material contracts in our pipeline are also recurring in nature."
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Anpario PLC, up 12% at 216.70 pence, 12-month range 177.00p-611.50p. The Nottinghamshire-based animal feed additive manufacturer intends to renew its general share buyback authority at the next annual general meeting, which it expects to take place on June 29. The company said the 225p per share offer is a premium of around 16% to its closing price of 194p each on Thursday. Looking ahead, the company says trading and the outlook for 2023 are in line with market expectations, with concerns over supply chain risks and logistics delays having begun to ease. However, it says that sales since the start of the year have continued at weaker levels as seen in the final quarter of 2022.
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AIM - LOSERS
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Baron Oil PLC, down 6.9% at 0.091p, 12-month range 0.065p-0.36p. The oil and gas exploration and appraisal company says its subsidiary, SundaGas Banda Unipessoal Lda, has been granted a six-month extension to its Chuditch contract in Timor-Leste. This was granted by the Autoridade Nacional do Petroleo e Minerais, or National Petroleum & Minerals Authority, of Timor-Leste. There are a number of ongoing discussions with third parties regarding participation in the Chuditch appraisal well and future activities. Baron says that while there is "the usual uncertainty" over whether these discussions will come to fruition, this extension, alongside the work programme, "maximises the chances" of a farmout.
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By Sophie Rose, Alliance News reporter
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